A senior Vatican official said he is “truly surprised” that the Bank of Italy ordered credit card payments suspended in the tiny city-state

The Vatican has been cash-only since January 1 after Italy's central bank compelled Deutsche Bank Italia to stop providing electronic payment services to the Holy See.

The Bank of Italy said in a statement this week it had no choice but to order the block because the Vatican has no banking regulatory framework or EU-recognized alternative for anti-money-laundering purposes.

In truth, the Council of Europe's Moneyval committee found some serious problems in the Vatican's anti-money laundering efforts.

Then last year, under pressure from the Bank of Italy, JPMorgan closed its IOR accounts. Now, Deutsche Bank has halted its 15-year term providing electronic payment services to the Vatican.

A senior Vatican official said he is “truly surprised” that the Bank of Italy ordered credit card payments suspended in the tiny city-state

The Vatican has been cash-only since January 1 after Italy's central bank compelled Deutsche Bank Italia to stop providing electronic payment services to the Holy See.

The Bank of Italy said in a statement this week it had no choice but to order the block because the Vatican has no banking regulatory framework or EU-recognized alternative for anti-money-laundering purposes.

In truth, the Council of Europe's Moneyval committee found some serious problems in the Vatican's anti-money laundering efforts.

Then last year, under pressure from the Bank of Italy, JPMorgan closed its IOR accounts. Now, Deutsche Bank has halted its 15-year term providing electronic payment services to the Vatican.

Cash only at the Vatican....

Serves them right..

Boro

Quoting: BoroBoro

COOL... banksters are starting to fight each other. That's a good sign!

God has no enemies! God is LOVE! Love is the most powerful weapon in the world. All who try to play God are wasting their time and will get kicked in the ass over and over again until they learn their lesson! PS. I'M HUNGARIAN!

"Thou we are not now that strength which in old days moved earth and heaven that which we are, we are.One equal temper of heroic hearts made weak by time and fate but strong in will to strive, to seek, to find and not to yield"

I dont think the vatican is that worred about money. They are treasures from the last 2k years in vaults and have more gold than the us treasury. Although it is funny that they were blocked. It would be like bill gates being denied a loan on a house because he did not have the proper papers.